Category
210 articles
BusinessIn a deal that signals Ethiopia’s aviation ambitions are about to hit full throttle, the African Development Bank (AfDB) has committed up to $500 million towards the construction of the Abusera Mega Airport — a project that could redefine air travel in Africa. When completed in 2029, this colossal hub near Bishoftu, just 45 kilometers
Banking & FinanceIn the bustling markets of Ethiopia, where roadside stalls and small kiosks have long been the beating heart of local commerce, a quiet digital revolution has been unfolding for over a decade. At the center of it all is Oromia Cooperative Bank’s bold innovation, the “Michu” digital unsecured loan service. Since its launch in 2014,
BusinessIn a year marked by both progress and persistent challenges, Ethiopian Electric Power (EEP) announced that over 33% of the country’s total electricity generation in the 2017 fiscal year came from the Grand Ethiopian Renaissance Dam (GERD), a landmark infrastructure project steadily transforming Ethiopia’s energy landscape. In its annual performance report, EEP revealed that it
Banking & FinanceWegagen Bank has secured a $85 million international trade finance guarantee facility through agreements with the Eastern and Southern African Trade and Development Bank (TDB) and the African Export‑Import Bank (Afreximbank). Strategic Expansion of Trade Finance Capacity The newly obtained facility empowers Wegagen to enhance its capabilities in underwriting and confirming Letters of Credit (L/Cs),
WGBX+5.39%
BusinessDespite navigating a year of regional conflicts, operational bottlenecks, and global aviation headwinds, Ethiopian Airlines has managed to extend its lead in Africa’s skies, adding new jets, new routes, and nearly two million more passengers. The airline reported $7.6 billion in revenue for the 2024/25 fiscal year, an 8% increase from the previous period, marking
BusinessEthiopia is quietly charging up its role as East Africa’s power bank. In the just-ended 2024/25 fiscal year, Ethiopian Electric Power (EEP) raked in a solid $118.1 million by exporting electricity to its neighbors — Kenya, Djibouti, Sudan, and for the first time, Tanzania. The numbers reveal a bigger story: Ethiopia isn’t just keeping the
BusinessEthiopian businesses were living in a silent world, hiding their secrets behind closed doors. That was, and still is to some extent, the culture of doing business in Ethiopia. Many companies are family-owned, strong centralized administration is persistent, and one’s close-knit networks dictate the trajectory of the company, but now everything is about to change.
BusinessIn a major step for Ethiopia’s digital payments industry, Premier Switch Solutions S.C. (PSS) has become the first company in the country to be officially approved by Visa for card personalization services. This means PSS can now securely prepare and personalize Visa-branded payment cards for banks and financial institutions, placing Ethiopia on the global map
Banking & FinanceIn a historic move to transform the country’s agricultural financing landscape, Ethiopia has officially launched the National Agri-Finance Implementation Roadmap (NAFIR) 2025–2030. The roadmap, a joint initiative by the National Bank of Ethiopia (NBE) and the Ministry of Agriculture (MoA), is set to unlock access to credit for smallholder farmers and strengthen financial inclusion in
Banking & FinanceIn a landmark move that sets a new precedent in Ethiopia’s financial sector, the Bank of Abyssinia has launched a fully paperless banking system across all its branches. The official unveiling took place at the bank’s state-of-the-art Ras Leyu Branch, with prominent figures in attendance, including the Governor of the National Bank of Ethiopia, Ato
BOAX-0.11%
Banking & FinanceAwash Bank and M-PESA have signed a strategic partnership aimed at expanding access to digital credit and savings services in Ethiopia. The agreement kicks off with the launch of “Errif be M-PESA / እርፍ በኤም-ፔሳ,” an overdraft feature that allows customers to complete mobile transactions even when their M-PESA wallet is out of funds. At
AWAB-2.78%
BusinessThree major Ethiopian institutions—Dashen Bank, Ethio telecom, and ETTA Solutions—have jointly launched Zoorya, a new digital platform that integrates core business tools into a single system. The platform brings together Enterprise Resource Planning (ERP), Point of Sale (POS), and Cash Register functionalities, aimed at modernizing business processes across multiple sectors. What Is Zoorya? Zoorya is
TELE+3.81%
